He had one year remaining on his contract but the Saints decided to terminate his deal following the recent club review conducted by board member Andrew Thompson.

Summers says the reasons for Watters' dismissal will remain "confidential" but he stated the decision had nothing to do with his standing amongst the club's player list.

"We went through a review process, I'd like to emphasise that process was part of a club review of what the club needs to go forward," he told a media conference on Friday afternoon.

"(In) that process a number of things were identified including our structures and we reached the decision we did today."

It had been speculated that the decision to part ways with Watters was because of friction within the the club's football department, in particular his relationship with list manager Chris Pelchen.

Summers acknowledged there had been moments of tension but maintained this did not contribute to Watters' sacking.

We accept there was tension in the football department but tension isn't a bad thing necessarily.

Peter Summers

"We accept there was tension in the football department but tension isn't a bad thing necessarily," he said.

"It's irrelevant going forward."

Summers says he was unaware of Watters' appearance on Melbourne radio when it was decided he would be sacked.

The Saints are hopeful of naming Watters' replacement before the national draft on November 24.

Summers says the club has a list of candidates it will approach but they have not made any moves yet.

Port Adelaide's 2004 premiership coach Mark Williams, currently an assistant to Damien Hardwick at Richmond, has been suggested as the favourite to take on the position full-time.

Summers admits it was a tough decision for the club to make and it hopes Watters will understand it was made to make sure the club moved forward.

"I want to thank him (Watters) for the commitment he gave to the club over the last two years," he said.

"We wish him well in the future."

Watters caught unawares by sacking

Watters told Melbourne radio station 1116 SEN this morning he believed his position was not under threat.

"We've got really good communication, I know exactly where we sit," Watters said.

"When a president sits with you and says 'we see you as a long term coach', that's enough for me.

"I'll get on with work and with business."

Watters also denied there was tension between himself and Pelchen over the immediate future of the club's roster.

"Chris and I are totally and perfectly aligned from a list management point of view and that really was from day one," he said.

Watters took on the Saints role following the departure of Ross Lyon to Fremantle after the 2011 season.

The Saints finished ninth in Watters' first full season in charge with a 12-10 record, but they endured a miserable 2013 to place 16th on the ladder with only five wins to their name.

Watters maintained during the season the Saints were going through a re-building phase and was confident the club could make great strides forward in 2014.

The Saints will have three first-round selections in this month's national draft, with picks three, 18 and 19, adding to what will already be a new-look list next season after the club was prominent during the AFL's trade period last month.

Nick Dal Santo, who played 260 senior matches for the Saints, found a new home with North Melbourne, while ruckman Ben McEvoy was traded to premiers Hawthorn.

The Saints also farewelled club stalwarts Justin Koschitzke, Jason Blake and Stephen Milne with the trio retiring after the home-and-away season.

There have also been a number of off-field changes, with Summers replacing Greg Westaway as president in August and Michael Nettlefold announcing last month he will step down as chief executive.

Assistant coach Dean Laidley also confirmed this week he was leaving his position to move to Carlton to work under Mick Malthouse.

Free trade is the oldest argument in federal politics and the issue that literally defined the federation era but opposition exists to the TPP, courtesy of the Investor-State Dispute Resolutions clause.